Paramount Event Planning Services collects fees from its customers in advance.On January 1,2017,the balance of its Unearned Revenue account was $6,000 (CR) .During January and February,the company collected $3,000 and $800 as advance fees.During the two-month period,it performed services of $7,500 related to the deferred revenue.What is the balance in Unearned Revenue at the end of February?
A) debit balance of $6,000
B) credit balance of $6,000
C) debit balance of $2,300
D) credit balance of $2,300
Correct Answer:
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